Key Takeaways:

• Nearly 3 in 4 NYC sellers said their agent recommended listing their home privately to only a select group of agents and their buyers
• More than 2 in 5 NYC sellers did not review their agent’s selling strategy before deciding to hire them
• 1 in 3 NYC sellers who listed privately at any point reported experiencing seller’s remorse — more than twice as many as those who only ever listed publicly
• Nearly 9 in 10 NYC sellers believe limiting access to for-sale home listings to only certain subsets of buyers could lead to discrimination

Some in the real estate industry are attempting to change the way properties are sold, marketed, and managed, restricting access through private listing networks. Within these networks, real estate agents and brokers selectively share listings with buyers who commit to their brokerage, based on the promise of exclusive access to hidden inventory. While agents tout the benefits of these private networks to their sellers, sellers may fail to fully understand the risks, leading to eventual regret and money left on the table.

These networks create a fractured marketplace and have a negative impact on buyers, sellers, and the real estate industry as a whole. In New York City, the most inventory-constrained housing market in the country, home shoppers already struggle to find sufficient options without the added barrier of hidden listings. 

Zillow® research found that an overwhelming share of prospective buyers (91%) agree they should be able to see and access all available for-sale home listings for free, regardless of who lists them. Now, new StreetEasy® research conducted in March 2025 by The Harris Poll among over 500 sellers in NYC shows that sellers see the potential harm in these private networks, too. 

NYC sellers struggle to vet an agent

On average, sellers contacted four agents before hiring one to help them sell their home, but deeper analysis shows many sellers may not have had a clear understanding of what to look for. More than half of sellers reported not asking to speak with their agent’s references (56%) prior to hiring them, and more than two in five said they didn’t review the agent’s past experience (41%) or even their selling strategy (44%) before hiring them.

Nearly three in four (73%) NYC sellers said their agent recommended listing their home privately to a select group of agents and their buyers, with just over half of sellers (58%) saying their agent recommended listing to agents and buyers within their own brokerage exclusively. Meanwhile, nearly two in five sellers (39%) reported that their agent recommended listing privately to agents and buyers outside of their firm.

Agents’ reasons for recommending a private listing strategy varied — from building interest among buyers to ensuring privacy. However, more than two in five sellers (42%) said their agent’s reasoning for recommending a private listing strategy was simply that it was standard practice at their brokerage, which may imply the strategy is not truly employed as the personalized recommendation that some brokerages may tout.

For some sellers, the lack of due diligence when choosing an agent led to unfortunate regret. One in three sellers who listed privately at any point reported experiencing seller’s remorse — more than twice as many as sellers who only ever listed publicly. Meanwhile, sellers who listed privately were more than three times as likely to report firing their real estate agent.

Sellers believe in the value of public listing access

Despite pressure by some brokerages for sellers to keep their listings from the public, NYC sellers overwhelmingly believe there is immense value in getting maximum exposure for their home. Nearly all sellers agree that their home is more likely to sell quickly (94%) and that they are more likely to get the price they want for their home (93%) if more prospective buyers can view it.

Moreover, sellers believe all available for-sale home listings should be accessible to all home shoppers (89%) and viewing these listings should be free (92%). The majority also believe that limiting access to for-sale home listings to certain subsets of shoppers could lead to discrimination (88%).

Selling & buying in NYC is already challenging

NYC is a complex market, so it’s no surprise that most sellers encounter some challenges before finding success. Most sellers (95%) found the experience challenging, including 13% who fired their real estate agent and 11% who admitted they cried at some point during the experience. More than three in 10 sellers had offers fall through (32%), considered renting out their home instead (35%), or considered offers below asking price (40%). Yet, more than half of sellers also reported receiving multiple offers (53%).

For some, the most challenging part of selling may be the strategic aspects — such as figuring out the right price (48%) or the right time to list (42%), or creating a listing that will attract the most qualified buyers (39%). But for others, the greatest challenge was their relationship with their agent: 40% of sellers said finding an agent who met their needs was one of the most challenging aspects, while 37% reported communicating with their agent was a challenge.

For buyers, limiting access to listings makes navigating the NYC market even more challenging. With hurdles like high home prices, strict board approvals, and a severe lack of inventory, restricting their options further risks shutting out even more would-be buyers from the market.

What sellers can do

Selling a home in NYC will always present its challenges, but data shows that the right agent partner can make the process more efficient and help to reduce sellers’ stress. Before hiring an agent, sellers can — and should — interview multiple candidates thoroughly to avoid the miscommunication and remorse experienced by some in StreetEasy’s survey with The Harris Poll. Sellers should make sure they clearly understand the risks, benefits, and tradeoffs associated with their agent’s strategy to market their property before moving forward to ensure they’re pursuing the right strategy for their home. StreetEasy Concierge can provide sellers with personalized guidance on navigating the process of selecting the right agent, and connect sellers with a qualified listing agent who meets their needs.

Methodology

The research was conducted online in the U.S. by The Harris Poll on behalf of StreetEasy among 526 adults aged 18+ who have ever sold or attempted to sell a home in one of the five NYC boroughs using a real estate agent. The survey was conducted from March 14-28, 2025.  

Data was weighted where necessary by age, gender, race/ethnicity, state, education, and marital status to align with actual proportions in the population.  

Respondents for this survey were selected from among those who have agreed to participate in our surveys.   

The sampling precision of Harris online polls is measured using a Bayesian credible interval.For this study, the sample data is accurate to within ± 5.0 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest.  

All sample surveys and polls, whether or not they use probability sampling, are subject to other multiple sources of error which are most often not possible to quantify or estimate, including but not limited to coverage error, error associated with nonresponse, error associated with question wording and response options, and post-survey weighting and adjustments.

StreetEasy is an assumed name of Zillow, Inc. which has a real estate brokerage license in all 50 states and D.C. See real estate licenses. StreetEasy Concierge team members are real estate licensees, however they are not your agents or providing real estate brokerage services on your behalf. StreetEasy does not intend to interfere with any agency agreement you may have with a real estate professional or solicit your business if you are already under contract to purchase or sell property.